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Kuwait: NBK - Bahrain Reports a Net Profit of BHD 60.24 Million (KWD 48.18 Million) in 1H 2021

National Bank of Kuwait – Bahrain (“NBK – Bahrain”) reported a net profit of BHD 60.24 million (KWD 48.18 million) for 1H 2021, compared to BHD 60.89 million (KWD 49-79 million) for the same period in 2020.

As of end of June 2021, NBK-Bahrain’s total assets stabilized at BHD 7.13 billion, whereas total shareholders’ equity rose by 32% to BHD 910.55 million, and customers’ deposits recorded BHD 1.83 billion for the same period.

Commenting on the Bank’s 1H 2020 results, NBK Group CEO, Mr. Isam Al-Sager said; “NBK – Bahrain managed to post good profits for the 1st half of 2021, despite the continuing uncertainty witnessed since the beginning of the year, following the emergence of the coronavirus variants, as well as the challenges and disruptions facing the operating environment due to the pandemic.”

“Year after year, NBK-Bahrain continues to strengthen its position in the Bahraini market, which is one of the key growth markets for NBK Group, considering its promising growth potentials and positive prospects,” he added.

Al-Sager noted: “NBK Group has a unique edge represented in the broad geographical footprint and the ability to conduct business in both conventional banking and Islamic banking. This diversification gives a significant degree of resilience to the Group’s earnings and provides it with a strong competitive advantage.”

Al-Sager mentioned that the Group’s strategic investments over the recent past years in the key growth driving areas, along with the performance of international operations was instrumental in supporting the Group’s profitability and mitigating risk.

On his part, General Manager of NBK - Bahrain, Mr. Ali Fardan said: “NBK – Bahrain’s results for the 1st half of 2021, despite the challenges facing the banking sector, is a proof of our resilient and well-diversified business model and our ability to quickly adapt to the challenges brought about by the pandemic.”

Al-Fardan pointed out that during the first six months of the year, the operating environment in Bahrain showed further signs of recovery thanks to the relentless efforts of vaccine rollout campaigns, which would boost confidence in the business environment and give more momentum to the performance of economic activity.

Fardan affirmed that the bank will continue to support its customers to weather the headwinds of the pandemic, as part of its commitment to its national duties.

We are making steady steps to strengthen our position in Bahrain by offering high-quality banking and financial services to our retail and corporate customers, and leveraging on our huge growth potentials in the Bahraini market, he added.

Fardan commended the efforts of the Central Bank of Bahrain, in particular, and government authorities, in general, which supported the performance of the bank and the banking sector in Bahrain at large. He also stressed that the support provided by NBK Group to the bank in Bahrain, through its widespread regional and international branch network, has clearly contributed to promote the bank's activities in the Bahraini market, capitalizing on its high credit ratings, extensive relationship network, and leading reputation as the best bank in the Middle East and one of the Safest Banks all over the world.

NBK is the largest financial institution in Kuwait with effective market dominance in the commercial banking market and has been consistently awarded the highest credit rating of all banks in the region from Moody's, Standard & Poor's, and Fitch Ratings. NBK also stands out in terms of its local and international network, which includes branches, subsidiaries and representative offices in China, Geneva, London, Paris, New York, and Singapore alongside its regional presence in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.

Bahrain: NBK Rewards Program Named “Fastest Growing Credit Card Rewards Program in Bahrain for 2023”

National Bank of Kuwait - Bahrain (NBK) has won “Fastest Growing Credit Card Rewards Program in Bahrain for the Year 2023”, for the NBK Rewards Program. The program is presented by blu AI™, the leading provider of customer loyalty and customer engagement solutions in Bahrain and Middle East.

The NBK Rewards Program was nominated based on several principles and criteria, mainly the customer base growth rate to register and get activated in the Rewards Program upon receiving the NBK Credit Card and benefiting from the various categories available for redeeming points, such as cash back, travel packages, purchase vouchers, Falconflyer travel miles from Gulf Air, and many more.

National Bank of Kuwait - Bahrain launched the NBK Rewards Program in 2021, which has contributed since to encouraging the use of NBK Credit Cards inside and outside Bahrain. It is a permanent free program that allows customers, when using their Credit Cards while shopping, to earn points on every purchase starting at BHD 1. The points can later be redeemed for other purchases or cashback at participating outlets. Points are accrued and then redeemed through the NBK Rewards Program.

The General Manager of National Bank of Kuwait-Bahrain, Mr. Ali Fardan, expressed his great happiness to receive this award, which came as a confirmation of its success and the extent of customers’ satisfaction with the provided benefits. Mr. Fardan expressed his pride in the partnership with blu AI™, which is witnessing rapid growth in the region and beyond along with a remarkable progress in the number of financial institutions and other commercial enterprises with international brands that have joined it.

For his part, CEO of blu AI™, Mr. Tony Gougassian, expressed: We are pleased to grant National Bank of Kuwait - Bahrain this award and we are proud of this partnership with one of the largest credit card service providers in Bahrain, which has a pioneering vision for excellence and to continue cooperation to develop the features of this program to remain the leader in the field. Loyalty and rewards programs on global standards.

It is worth mentioning that the NBK Rewards Program includes two different categories of cards, and each category determines its own exclusive offers that the customer receives, which are: the NBK Visa Signature Credit Card category and the NBK Visa Platinum Credit Card category. Customers who hold both categories can earn points through all local and international stores and all points of sale and electronic shopping, and they can also transfer points to any other member of the program.